Climate Changed
Climate Group That Unites Yellen, Exxon Unveils Carbon Tax Plan
- Members include oil, power companies and former U.S. officials
- Environmental groups had objected to lawsuit immunity proposal
Photographer: Simon Dawson/Bloomberg
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Major oil, power and consumer products companies are releasing their most specific plans yet for a nationwide tax on carbon dioxide that promises to halve U.S. emissions of the greenhouse gas by 2035.
The more detailed blueprint set to be unveiled Wednesday by the Climate Leadership Council calls for a $40 tax to be levied on each ton of carbon dioxide, with the fee increasing at least 5% every year and proceeds rebated to American consumers.